Keyword: oil

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  • Saudis Bet Big On Houston As Drilling Activity Picks Up

    03/22/2017 2:57:01 PM PDT · by bananaman22
    Oilprice.com ^ | 22-03-2017 | PARA
    A Saudi logistics company has just opened a Houston office to seize the opportunity to ship increased volumes of oilfield and plant construction equipment to the Port of Houston as the Texas and U.S. drilling activity is gaining momentum. Bahri Logistics – which had opened its U.S. headquarters in Baltimore back in 1992 – is now opening an office in Houston to take advantage of expected higher demand for oilfield equipment, called breakbulk cargo in the shipping industry: these are large items that need to be loaded and shipped individually rather than in containers. Bahri, or the National Shipping Company...
  • Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts

    03/20/2017 4:19:48 PM PDT · by artichokegrower · 14 replies
    gCaptain ^ | March 20, 2017 | Mark Shenk
    Oil fell as a U.S. drilling revival undermines the potential for OPEC output curbs to rebalance the market. Futures dropped as much as 1.9 percent in New York. Saudi Arabian Energy Minister Khalid Al-Falih said on March 16 that the kingdom may extend its cuts if supplies stay above the five-year average. A day later, though, data showed the U.S. rig count growing for a ninth week, and a Libya official said Sunday that the Es Sider and Ras Lanuf ports are preparing to restart oil exports.
  • Remember When Maxine Waters Said She Wanted to "Socialize" and "Take Over" All Oil Companies?

    03/20/2017 8:14:33 AM PDT · by ReformedMedia · 27 replies
    The Washington Standard ^ | 03-20-2017 | Tim Brown
    Socialist Democrat Representative Maxine Waters (D-CA) has become the poster child for liberal stupidity in her continued crusade to impeach Donald Trump without a shred of evidence, except her feelings.  While many have called Trump and his supporters Nazis, which were National Socialists, let me remind you that Waters is the one that has claimed to be a Socialist and said she would love to "take over" all oil companies. A slip of the tongue revealed the true intentions of Maxine Waters during a house hearing in 2008 grilling oil executives including John Hofmeister, President of Shell Oil Company. Waters referred...
  • Largest U.S. onshore oil discovery in 30 years announced: 1.2B barrels in Alaska

    03/16/2017 5:12:19 PM PDT · by Brad from Tennessee · 31 replies
    Washington Times ^ | March 10, 2017 | By Douglas Ernst
    Energy giant Repsol has found the largest onshore U.S. oil find in 30 years. Oil exploration that started in 2008 has paid off for Spanish oil company Repsol and its U.S. partner, Armstrong Energy. Roughly 1.2 billion barrels of light crude are available in Alaska’s North Slope and ready to come up in 2021. “The successive [exploration] campaigns in the area have added significant new potential to what was previously viewed as a mature basin,” the company said in a statement posted to its website on Friday. “Additionally Alaska has significant infrastructure which allows new resources to be developed more...
  • Trump administration to repeal Obama'era fracking rule

    03/16/2017 7:18:02 AM PDT · by rktman · 17 replies
    americanthinker.com ^ | 3/16/2017 | Rick Moran
    President Donald Trump as a candidate promised to unshackle the American energy industry by undoing most of the job killing regulations created by the Obama administration. In a court filing, Justice Department lawyers revealed that the new administration is planning to repeal the Obama hydraulic fracturing rule, that placed severe restrictions on the process of getting oil and natural gas from shale. Earlier yesterday, the administration said they would roll back some of the automobile emissions standards and curtail other Obama administration environmental rules on water and coal leasing.
  • Massive Oil Discovery in Alaska Is Biggest Onshore Find in U.S. in 30 years

    03/12/2017 8:32:52 AM PDT · by rktman · 84 replies
    ktla.com ^ | 3/10/2017 | unknown
    Some 1.2 billion barrels of oil have been discovered in Alaska, marking the biggest onshore discovery in the U.S. in three decades. The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices. The new discovery was made in just the past few days in Alaska’s North Slope, which was previously viewed as an aging oil basin. Spanish oil giant Repsol and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as...
  • Fracking Ban Passes House With Veto Proof Majority (Maryland)

    03/10/2017 9:28:52 PM PST · by 2ndDivisionVet · 27 replies
    WBAL-AM ^ | March 10, 2017 | Robert Lang
    The House of Delegates has approved a bill to permanently ban natural gas fracking in Western Maryland. The bill passed by a vote of 97-40. The 97 votes is 12 more than the minimum of 85 needed to override a veto from Governor Larry Hogan. That majority was important to the chairman of the committee hearing the bill in the Senate. The chairman of the Senate Education Health and Environmental Affairs Committee, Joan Carter Conway of Baltimore City, says she won’t bring the bill to the Senate floor unless lawmakers have enough votes to override a possible veto from Governor...
  • Shell Sells Almost All Canadian Oil Sands Assets

    03/10/2017 9:11:40 AM PST · by Lorianne · 15 replies
    Oil Price ^ | 09 March 2017 | Irina Slav
    Shell has struck a deal to sell all its oil sands production assets in Canada, except for a 10-percent stake in the Athabasca Oil Sands Project, as part of its $30-billion divestment program aimed at reducing its debt load that it accumulated with the acquisition of BG Group. The total net value of the deal is $7.25 billion, and the buyer is Canadian Natural Resources, which will partner with Shell on another deal: the acquisition of Marathon Oil Canada Corporation, which has a 20-percent stake in the AOSP. The stake will be split equally between the partners, each contributing $1.25...
  • Oil Price Down Nearly 10% Over The Past Three Days

    03/10/2017 10:12:48 AM PST · by Steely Tom · 42 replies
    NASDAQ WTI Petroleum Price ^ | 10 March 2017 | Petro Market
    The of oil is down, from $53 on 7 March, to a bit above $48 today. This, going into the summer driving season.
  • Harold Hamm: U.S. Shale Spending Binge Could Destroy Oil Market

    03/09/2017 8:36:00 AM PST · by bananaman22 · 22 replies
    Oilprice.com ^ | 09-03-2017 | Hamm
    In a rather unconventional warning, Continental Resources chief executive Harold Hamm said on Wednesday that should the U.S. oil industry embark on another spending spree, it could “kill” the market. Speaking at the CERAWeek conference in Houston – one of the largest gatherings of oil executives and ministers, including this year Saudi Arabia’s oil minister Khalid Al-Falih – Hamm said that U.S. crude oil output “could go pretty high”. But Hamm was quick to add, as quoted by Bloomberg: “But it’s going to have to be done in a measured way, or else we kill the market.”
  • What Petro States Can Learn From The U.S. Shale Boom

    03/08/2017 10:48:06 AM PST · by bananaman22 · 6 replies
    The dynamics of the oil industry have changed dramatically since the beginning of 2010. Because of the U.S. shale revolution, the U.S. is now a country with oil production rivaling that of Saudi Arabia and Russia. The fundamental shift in oil power has come as a direct result of investment in the technology of horizontal drilling and hydraulic fracturing of tight oil formations in the U.S. In 2010, U.S. production from tight oil shale formations were marginal in comparison to total U.S. oil production; however, tight oil now makes up 52 percent of all U.S. oil production.
  • Oil and gas giant expects to spend $840 million in Colorado this year

    03/08/2017 9:58:52 AM PST · by 2ndDivisionVet · 7 replies
    The Denver Business Journal ^ | March 7, 2017 | Cathy Proctor
    Anadarko Petroleum Corp., one of Colorado’s biggest oil and gas companies, on Tuesday said it would pour about $840 million this year into its operations in the state’s Denver-Julesburg (DJ) Basin, which sprawls north and east of Denver to the state line. The company (NYSE: APC), which has been working in the DJ basin for years, also boosted the amount of oil, natural gas and liquids it expects to pull from the basin by about 33 percent — to more than 2 billion barrels of oil equivalent, at least. As part of its annual announcement about capital investment for the...
  • White House now says American steel not required for Keystone pipeline

    03/03/2017 9:50:36 PM PST · by 198ml · 18 replies
    Washington Times ^ | 3/3/17 | Ben Wolfgang
    President Trump’s pledge that new pipeline projects will use “American steel” will not apply to the Keystone XL project, according to media reports, directly contradicting the president’s own words last week. Politico reported late Thursday night that a White House spokeswoman explained that the project, which has been in the works for the past decade, does not count as a “new” or “retrofitted” pipeline, and therefore is not subject to Mr. Trump’s made-in-America requirement. Comments from TransCanada, the company proposing the project, on Friday morning seem to confirm the firm will not be forced to use all U.S. steel.
  • No Peak Oil For America Or The World

    03/02/2017 4:08:34 PM PST · by Brad from Tennessee · 32 replies
    Forbes ^ | March 2, 2017 | By James Conca
    Oil is more plentiful than you can imagine. And we keep figuring out easier and more economical ways to get it out of the ground. In 1938, the famous geologist M. King Hubbert came up with the concept of peak oil, which is defined as having extracted half of the recoverable, conventional oil reserves. After that, oil production declines and cannot keep up with growing demand as the population continues to rise. In Hubbert’s time, most of the conventional oil reserves had already been discovered. Hubbert went on to predict that U.S. production would peak in 1969, and it did...
  • EPA reverses course, won’t seek emissions, equipment data from drillers

    03/02/2017 3:11:12 PM PST · by jazusamo · 35 replies
    The Washington Times ^ | March 2, 2017 | Ben Wolfgang
    The Environmental Protection Agency on Thursday reversed an Obama-era plan to collect massive amounts of data from oil-and-gas companies — information that ultimately would’ve been used as the basis for new federal regulations on methane. EPA Administrator Scott Pruitt said the requests made by the prior administration constituted unnecessary burdens on the energy industry. His action also seems to signal that the EPA will not pursue any new methane regulations anytime in the foreseeable future.
  • The Secret Wealth Of The World’s Richest Oil Billionaires

    03/02/2017 8:20:10 AM PST · by bananaman22 · 9 replies
    Oilprice.com ^ | 02-03-2017 | Ziki
    A policy of nationalizing chunks of an economy inevitably creates oligarchs who skim profits off the country’s natural resources. As such, you won’t be surprised to learn that the largest energy companies in the world are owned and operated by governments, and they include: Saudi Aramco, Russian Gazprom, China National Petroleum Corp. (CNPC), National Iranian Oil Co., Petroleos de Venezuela, Brazil’s Petrobras and Malaysia’s Petronas. How they’re run varies wildly—as does where their wealth goes. While we’ve all been inundated with the massive amount of press on the scandals engulfing Brazil’s Petrobras, there are a few that stand out for...
  • Oil Exports: One place where America is getting great again fast

    03/01/2017 11:40:10 AM PST · by SeekAndFind · 44 replies
    American Thinker ^ | 03/01/2017 | Monica Showalter
    Headline you don't see too many places: U.S. oil exports are blowing past expectations That's from Mike Allen's pretty good new news site, Axios, which is fast becoming one of my favorites. The U.S. is blowing away OPEC and other petrotyrant states with a stunning upsurge in oil sales abroad. Up until December 2015, oil exports weren't even legal from the states. Thirteen months later, we are conquering the market and becoming the Big Dog through our energy companies' rising production, eclipsing every petrotyrant this side of Hugo Chavez. Get a load of the chart from Forbes. Which reminds...
  • OPEC Struggling To Hold On To Asian Market Share

    03/01/2017 7:49:51 AM PST · by bananaman22 · 5 replies
    Oilprice.com ^ | 01-03-2017 | Rocky
    Two years ago, OPEC took steps to increase its market share. It continued with this same policy for two years by pumping oil in an oversupplied market. The result: oil prices tanked and OPEC increased their market share by a small margin. Today, low oil prices are crippling the finances of OPEC members, forcing them to agree to cut production to support oil prices. But just over a month of production cuts and data shows that OPEC has lost around 5 percent market share in Asia since October. The U.S., Brazil, Britain and Libya have increased their supply to Asia...
  • Oil advocate: Industry under assault in NM; state is prime target for environmentalists

    02/27/2017 10:12:58 AM PST · by CedarDave · 12 replies
    Roswell Daily Record ^ | February 26, 2017 | RDR Staff
    SANTA FE — Opposition to the shale oil extraction process known as fracking is growing, particularly among minorities, threatening the political viability of the oil industry in New Mexico, an oil and gas industry expert told state lawmakers Thursday. Claire Chase, the government affairs director for Mack Energy of Artesia, said while state government is heavily reliant on oil revenues, New Mexico is the most vulnerable state in the nation to increasing opposition to fracking and fossil fuels in general. She said a new culture of protests and activism has the oil and gas industry in its sights. Chase said...
  • Dakota Access pipeline poised to flow oil within weeks as project roars ahead of schedule

    02/26/2017 1:12:15 AM PST · by GonzoII · 18 replies
    Washington Times ^ | Friday, February 24, 2017 | Valerie Richardson
    After months of protest-driven delays, the Dakota Access pipeline is now running ahead of schedule and expected to be ready to deliver oil as early as next month. Attorneys for Energy Transfer Partners said in a court-ordered status report Thursday that the final 1,100-foot section is nearly finished, which would enable the 1,172-mile, four-state pipeline to begin operations months ahead of previous estimates. “Dakota Access reports that the pilot hole is complete,” said the report filed Tuesday in U.S. District Court. “The company is currently reaming the hole — i.e., making it larger in order to accept the pipe. As...
  • Dakota pipeline builder says oil could flow in as few as two weeks

    02/22/2017 12:26:44 AM PST · by 2ndDivisionVet · 13 replies
    ABC News ^ | February 22, 2017 | Tom Kutsch and James Hill
    On the eve of the deadline for anti-Dakota Access Pipeline protesters to vacate camps in North Dakota, the company in charge of construction said in a court filing on Tuesday that oil could start flowing in as early as two weeks, beating previous estimates. Texas-based developer Energy Transfer Partners, the builder of the pipeline whose construction has sparked protests since last August over its location, said in the filing to the U.S. District Court in Washington, D.C., that the company "estimates and targets that the pipeline will be complete and ready to flow oil anywhere between the week of March...
  • ‘’U.S. Oil Production To Soar By 3.5 Million Bpd Over The Next Five Years’’

    02/21/2017 1:42:46 PM PST · by bananaman22 · 19 replies
    Oilprice.com ^ | 21-02-2017 | 21-02-2017
    Two years ago, when Saudi Arabia launched an unprecedented campaign to crush high-cost oil producers, in the process effectively putting an end to the OPEC cartel (at least until last year's attempt to cut production), it made a bold bet that U.S. shale producers would be swept under when the price of oil tumbled, leading to a tsunami of bankruptcies, as well as investment and production halts. To an extent it succeeded, but where it may have made a glaring error is the core assumption about shale breakeven costs, which as we reported throughout 2016, were substantially lower than consensus...
  • Oil – Where did it come from?

    02/19/2017 1:38:04 PM PST · by rktman · 63 replies
    wattsupwiththat.com ^ | 2/18/2017 | David Middleton
    I am a petroleum geologist/geophysicist with about 36 years of experience in oil & gas exploration mostly in the Gulf of Mexico. In light of Andy May’s recent post, Oil – Will we run out?, I thought I might post an essay on oil formation. Over the past six years, I have been fortunate to have the opportunity to write guest posts for Watts Up With That thanks to Anthony Watts. Many of my posts have been about issues related to oil production and each of these posts usually triggers comments from Abiogenic Oil advocates. So, this post’s main thrust...
  • [2012 FLASHBACK] What If Oil and Natural Gas Are Renewable Resources?

    02/17/2017 1:07:51 AM PST · by 2ndDivisionVet · 24 replies
    American Thinker ^ | March 18, 2012 | Greg Lewis
    President Barack Obama and his green energy confederates are determined to scare the public about a declining supply of "fossil fuels." If we accept the idea that oil is produced by the conversion of organic matter -- from plants to dinosaurs -- under extreme pressure, we must also accept the idea that there is a limited supply of oil and that we've got to do everything we can to find a replacement for fossil fuels before we run out. The evidence is mounting that not only do we have more than a century's worth of recoverable oil in the United...
  • Fossil fuel divestment crashes and burns in Vermont(DOH!)

    02/11/2017 7:56:02 AM PST · by rktman · 10 replies
    hotair.com ^ | 2/10/2017 | Jazz Shaw
    The fossil fuel divestment boom has turned into a serious bust. Most recently we saw this at the University of Denver where the administration determined that the future health of their endowment was worth far more than any political points scored through satisfying the demands of some environmentalist students. We’ve seen this in a number of other schools but the trend is continuing in areas outside the academic realm. Even state governments have been forced by activists to take a look at the possibility of divestment. This most recently happened in Vermont where the state pension plan was considering similar...
  • U.S. To Sell 10 Million Barrels From Strategic Reserves This Month

    02/09/2017 9:03:17 AM PST · by bananaman22 · 25 replies
    Oilprice.com ^ | 09-02-2017 | Irina
    Some 10 million barrels of crude from the U.S.’s strategic reserve are scheduled to be sold later this month, the Department of Energy said. The shipment is part of a total 25 million barrels, to be sold over a period of three years, as per the 21st Century Cures Act, signed in December last year. Sales from the SPR are conducted, according to the DoE, to “respond to a severe energy supply interruption, to prevent or address lesser supply shortages or to conduct evaluations of drawdown and sales procedures.” The Department added that the bidding is open to all companies...
  • U.S. Army Corps to Grant Dakota Access Oil Pipeline Easement

    02/07/2017 1:14:22 PM PST · by NohSpinZone · 32 replies
    Bloomberg ^ | 2/7/17 | by Meenal Vamburkar
    <p>The U.S. Army Corps of Engineers said in a court filing it will grant Energy Transfer Partners LP the easement it needs to finish the controversial Dakota Access oil pipeline.</p> <p>The company needs the easement to complete work under Lake Oahe, following President Donald Trump’s memorandum that advised expediting review of the project. Trump took office promising to favor oil and natural gas developments as well as support new infrastructure, which has included reviving TransCanada Corp.’s Keystone XL pipeline.</p>
  • House votes to overturn Obama drilling rule

    02/03/2017 8:50:24 AM PST · by ColdOne · 48 replies
    thehill.com ^ | 2/3/17 | Devin Henry
    House votes to overturn Obama drilling rule The House on Friday passed a resolution to reverse a pollution rule for oil and natural gas drillers that was put in place by the Obama administration. Members voted 221-191 to approve a Congressional Review Act resolution against the Bureau of Land Management’s methane venting and flaring rule. If approved by the Senate and signed by President Trump, the rule would come off the books for good. Republicans and the oil industry say the rule would hinder energy production on federal lands by restricting drilling, costing jobs as well as tax and royalty...
  • The Oil War Is Only Just Getting Started

    02/02/2017 1:04:27 PM PST · by bananaman22 · 4 replies
    Oilprice.com ^ | 01-02-2017 | OP
    It’s been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how U.S. shale is responding to fifty-plus-dollar oil with rebounding drilling activity. Those two main factors are largely neutralizing each other, and are putting a floor and a cap to a price range of between $50 and $60. The U.S. rig count has been rising, while OPEC seems unfazed by the resurgence in North American shale activity and is trying to convince the market (and itself) and prove that it would be...
  • Trump Tax Reforms Could Cause Oil Production Surge: Goldman Sachs

    01/30/2017 7:36:06 PM PST · by 2ndDivisionVet · 10 replies
    Ship & Bunker ^ | January 26, 2017 | Staff
    His first week in office is proving U.S. president Donald Trump to be, if nothing else, true to his word in acting upon campaign promises, and Goldman Sachs believes the brash billionaire's proposed tax reforms may result in a 25 percent upward surge of West Texas Intermediate futures. This in turn could trigger large-scale domestic oil production, according to Goldman analysts, referring to the outcome of the push by House of Representative Republicans for a shift to border-adjusted corporate tax (BTA), whereby imports into the States would be taxed but U.S. business export revenues would be exempt from corporate taxation....
  • Ex-Mexican President Vicente Fox mocks Trump: He's a 'child'

    01/27/2017 5:53:00 AM PST · by DCBryan1 · 50 replies
    CNBC ^ | 0729 CST 27 JAN 17 | Matthew J. Belvedere | @Matt_Belvedere
    Vicente Fox Trump acting like 'a child, a CEO': Vicente Fox 1 Hour Ago | 01:35 Former Mexican President Vicente Fox blasted President Donald Trump on Friday, calling him a "child" and mockingly referring to him as a corporate "CEO" rather than president of the world's most powerful country. In an interview on CNBC's "Squawk Box," the outspoken Fox said Mexico won't pay for the wall Trump wants to build along the border, "not now, not ever." Fox also said he doesn't believe Trump is an American "in his soul and his beliefs." He added he does not understand the...
  • Kuwait Hangs 7 Prisoners, Including Royal, in Mass Execution

    01/25/2017 10:51:10 AM PST · by CorporateStepsister · 7 replies
    ABC News ^ | Jan 25, 2017, 7:53 AM ET | By hussain al-qatari
    Kuwait hanged seven prisoners in a mass execution on Wednesday, including a royal family member and a woman convicted of killing 58 women and children when she set fire to a wedding tent — the first death sentences carried out in several years in the oil-rich emirate. Those executed included a Bangladeshi, a Filipina, an Ethiopian, two Kuwaitis and two Egyptians, according to a statement carried on the state-run KUNA news agency. KUNA said that all had been convicted of murder except the Bangladeshi man, who was convicted of rape, kidnapping and theft. Kuwait's ruler, Sheikh Sabah Al Ahmad Al...
  • Despite Trump’s Rhetoric: U.S. Needs OPEC Oil

    01/25/2017 7:19:49 AM PST · by bananaman22 · 22 replies
    Oilprice.com ^ | 25-01-2017 | Tsvetana
    President Donald Trump is taking his ‘America First’ energy plan from the campaign trail to the White House website, vowing to achieve energy independence from OPEC and any nations hostile to U.S. interests. Trump is not the first U.S. President to have promised energy independence. At the height of the 1973 Arab oil embargo, Richard Nixon suggested a project to ensure that by the end of the 1970s, “Americans will not have to rely on any source of energy beyond our own”. More than 40 years later, America continues to rely on foreign oil imports, and is a large importer...
  • Safety Records Show Pipelines Best Method for Transporting Oil

    01/24/2017 8:26:57 AM PST · by VitacoreVision · 12 replies
    The New American ^ | 20 October 2014 | Bob Adelmann
    The combination of the Obama administration’s intransigence in approving the Keystone XL pipeline and the exponential explosion in the production of crude oil, especially from the Bakken formation in North Dakota, has put increasing pressure on alternative modes of transportation to get that crude to refineries and customers. But with the increasing use of alternative modes such as barges, railcars, and over-the-road tanker trucks has come a growing concern about safety.A series of rail accidents over the last several years has caught the attention of the Department of Transportation, and CNBC has tried its best to question the viability of...
  • Trump to sign orders reviving pipeline projects

    01/24/2017 8:08:11 AM PST · by wbarmy · 22 replies
    Fox News ^ | 1/24/2017 | John Roberts
    President Trump plans to sign executive orders reviving the Keystone XL and Dakota Access pipelines, which had been stalled under the Obama administration, sources tell Fox News. The moves had been widely expected, as Trump blasted his predecessor for effectively blocking the projects amid environmental and other concerns. While the Canada-to-Texas Keystone project was at the center of a heated debate for years until the Obama administration rejected a key permit in November 2015, the Dakota pipeline more recently became the subject of fierce protests until the Army Corps of Engineers in December blocked construction of a controversial segment. The...
  • Donald Trump could make US world-leader with $25 dollar oil, claims Wall Street analyst

    01/18/2017 10:35:01 PM PST · by 2ndDivisionVet · 38 replies
    Energy Voice ^ | January 19, 2017 | Alan Shields
    A leading Wall Street investment expert claims that Donald Trump could make the US a world leading “energy powerhouse” during his presidency. Joseph Grinkorn, chief executive officer of Morris Group, believes the presidential elect could force global oil prices as low as $25 dollars a barrel by tapping into America’s reserves. Mr Grinkhorn, a New York-base entrepreneur that specialises in finance, claims that the Republican’s first 100 days in office could be a “game changer” for the global energy industry. Both OPEC and non-OPEC member countries have already agreed to cut production for the first six months of this year...
  • 200,000 New Energy Jobs Forecast In 2017

    01/18/2017 8:14:11 AM PST · by bananaman22 · 4 replies
    The latest U.S. Energy and Employment Report has forecast that the sector of energy efficiency will see a 9-percent increase in employment this year – the highest growth rate across energy sectors, according to the Department of Energy. The survey was conducted among 30,000+ employers from the energy industry, who shared their hiring plans for the next 12 months. Within the energy efficiency sector, the Department also said, the highest growth in employment will be in construction, at 11 percent, followed by the segment of wholesale trade, distribution, and transport, with an expected employment growth rate of 8.3 percent. The...
  • ConocoPhillips: Big New Oil Discovery In Alaska Could Produce 100,000 Barrels Per Day

    01/15/2017 12:39:14 AM PST · by 2ndDivisionVet · 30 replies
    Seeking Alpha ^ | January 14, 2017 | Michael Fitzsimmons
    Yesterday ConocoPhillips' (NYSE:COP) Alaskan unit announced a big discovery in Alaska. The Willow discovery lies in the COP's Greater Mooses Tooth ("GMT") unit and consists of two wells which encountered 72 feet and 42 feet of net pay. 3-D seismic appraisal work will start this month, however initial estimates indicate the discovery could contain a recoverable oil potential of 300 million barrels of oil. As a result, Willow could produce up to 100,000 bpd of oil and first oil could come by 2023. ConocoPhillips has a 78% working interest in the play while Anadarko Petroleum (NYSE:APC) holds a 22% interest....
  • How Tillerson Could Jeopardize Geopolitics In Iraq

    01/11/2017 3:22:17 PM PST · by bananaman22 · 13 replies
    Oilprice.com ^ | 11-01-2016 | Ziki
    Former oil executive Rex Tillerson’s history of politically damaging oil dealings in the Middle East could jeopardize the future of a united Iraq as he assumes the position of U.S. Secretary of State with the inauguration of President-elect Donald Trump on January 20th, pending a Senate confirmation vote. Under Tillerson’s management in 2011, Exxon Mobil approved oil contracts with Erbil, the capital of the Kurdish Regional Government (KRG), which spans almost 80,000 kilometers in northern Iraq, provided disputed territories are included in the calculations. These lands hold an estimated 45 billion barrels of recoverable oil.
  • U.S. To Sell First 8 Million Barrels From Strategic Reserves

    01/09/2017 2:09:43 PM PST · by bananaman22 · 27 replies
    Oilprice.com ^ | 09-01-2017 | ZH
    Two weeks ago we previewed that the U.S. Department of Energy could begin to sell off some of its strategic petroleum reserve (SPR) as soon as January, the beginning of a multi-year process to shrink the nation’s stockpile of oil. Congress has authorized DOE to sell off $375.4 million worth of oil in its recent budget resolution. The DOE said that such a sale could be held in January 2017. Part of the motivation to sell crude is to finance upkeep for the SPR itself. The reserves are held in salt caverns in Louisiana and Texas, setup decades ago in...
  • Not The Legacy He Imagined? U.S. Oil Production Up 80 Percent Under Obama

    01/04/2017 11:48:31 AM PST · by MichCapCon · 16 replies
    Michigan Capitol Confidential ^ | 12/27/2016 | Tom Gantert
    When President Barack Obama took office in January 2009, the U.S. was producing 4.9 million barrels of oil per day. A month before Obama leaves office, domestic oil production stands at 8.8 million barrels per day, an increase of 80 percent. The increase is due primarily to industry innovators who combined two older technologies — hydraulic fracturing and horizontal drilling. This has benefited consumers in the form of both lower pump prices and smaller heating bills. Now with President-elect Donald Trump taking office, energy analysts are optimistic that the U.S. will produce even more. Trump’s advisers have said that the...
  • ‘Untapped Energy:’ Trump Promises A $50 Trillion Economic Stimulus

    01/03/2017 8:37:15 PM PST · by 2ndDivisionVet · 98 replies
    The Daily Caller ^ | September 23, 2016 | Michael Bastasch
    Republican presidential candidate Donald Trump laid out his energy plan to industry experts Thursday that included policies to unleash $50 trillion from “untapped” oil, natural gas and coal reserves. Trump said “untapped energy — some $50 trillion in shale energy, oil reserves and natural gas on federal lands, in addition to hundreds of years of coal energy reserves,” according to The Wall Street Journal report on the candidate’s speech at an energy summit in Pittsburgh, Penn. It’s all part of Trump’s plan to boost lagging energy production on federal lands. Trump said he would open up all federal lands to...
  • Oil shale regs’ status unclear as Obama era ends

    01/03/2017 12:07:10 AM PST · by 2ndDivisionVet · 6 replies
    The Daily Sentinel ^ | January 2, 2017 | Dennis Webb
    A federal government proposal to change royalty rates and other regulations pertaining to oil shale leasing and development remains to be finalized more than three years after being floated, raising the question of whether a final rule will be issued before President Obama leaves office. “We’re still hopeful it will come out in this administration. We just don’t know,” said Ted Zukoski, an attorney with the conservation organization Earthjustice. Bev Winston, a spokeswoman with the Bureau of Land Management, said the agency has continued working on a final rule, but she’s not able to give a timeline for when it...
  • New technology better than fracking could vastly expand oil reserves

    12/31/2016 10:39:59 AM PST · by 2ndDivisionVet · 39 replies
    American Thinker ^ | December 6, 2016 | Thomas Lifson
    Hydraulic fracturing, aka fracking, has revolutionized energy production in the United States and cornered OPEC. That cartel is currently attempting to restrict oil production and raise prices, but it faces the reality that American frackers can rapidly expand output. It’s a nightmare if you are a corrupt petro-dictator of any stripe, communist to jihadist. Now the never-ending quest for new technologies has yielded a potentially revolutionary replacement or substitute for fracking: microwaving shale to extract oil and gas. James Watkins reports in Ozy.com: As strange as it sounds, producers are experimenting with ways to zap previously unextractable oil resources with...
  • Trump Should Quickly Rescind Obama’s Drilling Ban

    12/22/2016 2:49:12 PM PST · by jazusamo · 29 replies
    PJ Media ^ | December 22, 2016 | Andrew C. McCarthy
    In his enviro-extremism, President Obama is attempting to tie President-elect Trump’s hands by blocking vast swaths of the Arctic Ocean and stretches of the Atlantic from oil and natural-gas drilling. The gambit, announced by the administration on Tuesday, is part of an eleventh-hour wave by which Obama is flooding the regulatory zone: Promulgating so many rules – of the unpopular, hard-left variety that Democrats dare not unveil before Election Days – that he hopes the Trump administration will find it too cumbersome to undo all of them. The incoming president should not let his predecessor get away with it. Obama’s...
  • As He Leaves Office, Obama Makes A Last-Ditch Effort To Kill Off Fossil Fuels

    12/21/2016 2:37:52 AM PST · by expat_panama · 25 replies
    Investors Business Daily ^ | Dec. 20, 2016 5:51 PM ET | Editorial
    Energy: You have to give President Obama credit. Knowing well that much of his legacy is soon to be erased, he's not going quietly. One of his final acts as he hits the door will be to take one last swing with government's giant mallet at the fossil-fuel industry. For his biggest swipe at the oil business, Obama hopes to block the sale of new offshore drilling rights in both Alaska and parts of the Atlantic... ...to cement his reputation as a champion of climate change. "If true, millions of people around the world will be grateful to President Obama...
  • President Obama bans oil drilling in large areas of Atlantic and Arctic oceans

    12/20/2016 3:28:10 PM PST · by Innovative · 137 replies
    Washington Post ^ | Dec. 20, 2016 | Darryl Fears and Juliet Eilperin
    President Obama moved to solidify his environmental legacy Tuesday by withdrawing hundreds of millions of acres of federally owned land in the Arctic and Atlantic Ocean from future offshore oil and gas drilling. Obama used a little-known law called the Outer Continental Shelf Lands Act to protect large portions of the Chukchi and Beaufort seas in the Arctic and a string of canyons in the Atlantic stretching from Massachusetts to Virginia from oil exploration and the potential for spills.
  • Drone stealing - WWRD? (What Would Reagan Do?)

    12/19/2016 10:41:05 PM PST · by Az Joe · 11 replies
    LA Slimes ^ | 10-19-87
    10-19-87 MANAMA, Bahrain — “The United States destroyed two Iranian offshore oil platforms in the central Persian Gulf today in retaliation for a missile attack on a U.S.-flagged tanker, U.S. officials announced”
  • Non Profit Using Surplus Hair To Help Clean Up Oil Spills Hopes New Facility In San Francisco

    12/18/2016 1:00:56 PM PST · by nickcarraway · 10 replies
    NBC Bay Area ^ | 12/17 | Garvin Thomas
    Non Profit Using Surplus Hair To Help Clean Up Oil Spills Hopes New Facility In San Francisco Will Be Model For OthersSpend enough time in San Francisco and you begin to think there's nothing that could happen on the streets of this famously unconventional city that could surprise you. Then a tractor-trailer pulls up on Howard Street and begins to unload box after box of, well, we will allow the woman who was waiting for the delivery to fill you in. "It's hair," said Lisa Gautier, founder and president of the non-profit Matter of Trust. "And fur. And fleece." 20,000...
  • Climate scientists adjust as Trump builds team of oil allies

    12/17/2016 9:03:34 AM PST · by Eddie01 · 66 replies
    OANN ^ | December 15, 2016 | Peter Henderson
    SAN FRANCISCO (Reuters) – Climate scientists worried that President-elect Donald Trump will slash their budgets and sideline their research... [snip] “I think it is maybe really necessary to refocus what you are doing and how you are labeling it,” [snip] Federal funding for climate change research, technology and international assistance hit $11.6 billion in 2014, from $2.4 billion in 1993, [snip] ...replaced the politically charged term “climate change” with “global change”... [snip] Climate scientist Ben Sanderson, also at NCAR, told Reuters he is applying to renew funding for assessing uncertainty in climate change. “Now the proposal would have to be...